Puerto Rico News

Castle Announces Release of New Replacement Cost Calculator

“View/Edit Components” Feature Allows Agents to Obtain More Accurate Values on Remodeled and High Value Homes Castle Data Services, a division of Overland Solutions, Inc., announced today the release of version 3 of Castle’s Web-Based Replacement Cost Estimator. Craig Locante, …

Dalmau Honored as 20,000th Student to Become CISR-Holder

Kathleen “Kathy” Mary Dalmau a commercial account specialist for Brown & Brown Inc., in Ft. Lauderdale, Fla., recently passed her fifth and final Certified Insurance Service Representative course and became the 20,000th active insurance professional in the nation to attain …

S&P Raises Real Legacy Assurance Co. Ratings to ‘BBB+’; Outlook Stable

Standard & Poor’s Ratings Services has raised its counterparty credit and financial strength ratings on Real Legacy Assurance Co. Inc. (RLA), formerly known as Royal & Sun Alliance Insurance (Puerto Rico) Inc., to ‘BBB+’ from ‘BBB’. Standard & Poor’s also …

CIAB Wins Countersignature Lawsuit in Puerto Rico

The Council of Insurance Agents & Brokers, the trade association that represents the nation’s largest commercial P/C and benefits brokers, announced the successful outcome of its lawsuit in Puerto Rico to strike down the territory’s countersignature law. U.S. District Judge …

OSHA Identifies 14,000 Workplaces with High Injury, Illness Rates; Letter Looks to Proactive Steps

Approximately 14,000 employers have been notified that injury and illness rates at their worksites are higher than average and that assistance is available to help them fix safety and health hazards, the Occupational Safety and Health Administration (OSHA) announced Thursday. …

Assurant Sees 2004 Net Income of $350.6 Million

Assurant Inc., a provider of specialized insurance and insurance-related products and services, reported its results for the fourth quarter and the year ended Dec. 31, 2004. J. Kerry Clayton, president and CEO, noted, “One year after our initial public offering, …

ISO: Insurers Pay a Record $27.3B in 2004 Cat Losses

U.S. property/casualty insurers paid a record $27.3 billion for insured property losses to homeowners and businesses from 22 catastrophic events last year—surpassing losses from 2001 that included the Sept. 11 attack—according to estimates by ISO’s Property Claim Services (PCS) unit. …

Rockwood Programs Notes Changes to EPLI Market

Rockwood Programs has reached an agreement with Avemco Insurance Company to be the exclusive administrator of a nationwide Employment Practices Liability Insurance (EPLI) program underwritten by the carrier. Avemco is a member company of HCC Insurance Holdings Inc. Rockwood has …

13 Fla. Companies Request Rate Hikes

Thirteen Florida insurance companies have requested 11 to 60 percent premium rate increases from the Florida Office of Insurance Reg-ulation. Regulators are reviewing the requests and will either approve them or ask for re-visions. Approved rate increases will be reflected …

Liberty Mutual Asks for 22.3 Percent Fla. Rate Increase

Liberty Mutual has asked the Florida Department of Insurance Regulation to approve a 22.3 percent rate increase. If approved, the increase would take effect March 14 for new customers and May 4 for renewals. Liberty Mutual covers 2.4 percent of …